Jeffries ups Apple price target to $650 from $600

“Jefferies raised its price target for Apple shares to $650 from $600 after its channel checks indicated the company is trying to pull forward the launch of the iPhone 6 from around September to July/August,” The Fly on the Wall reports.

“The firm’s checks also indicate Apple’s iWatch remains on track for a first half of 2014 launch and that the 13 inch iPad is coming around June,” The Fly on the Wall reports. “Jefferies raised its 2014 earnings estimate for Apple further above the consensus to $52.85 from $52.24 and keeps a Buy rating on the stock.”

Read more at The Fly on the Wall here.

19 Comments

  1. The storm in a tea cup is over, there was never a reason for Apple to drop from it’s highs, last christmas was a record sales xmas, this xmas will be an even bigger worldwide industry busting one and all the FUD will never nullify that!

    To the moon Apple, to the moon, your competition is anemic if at all!

    1. But notice that the Jeffries price target is based on the following assumptions:

      * channel checks indicated the company is trying to pull forward the launch of the iPhone 6 from around September to July/August

      * firm’s checks also indicate Apple’s iWatch remains on track for a first half of 2014 launch

      * and that the 13 inch iPad is coming around June

      If any of these “assumptions” or “channel checks” is in error or the schedule is delayed relative to their expectations, they will either slash AAPL predictions or make up new junk to justify the new price level or their projections for its future trend.

      I don’t pay any attention to analysts and their predictions.

  2. I’m happy that people are upgrading Apple.

    I’m worried that people are upgrading Apple based on their useless speculation (“channel checks”) that always prove to be wrong in the end, which will result in a downgrade of Apple stock down the road simply because the idiot analysts guessed wrong, not because Apple did anything other than what it always does.

  3. There have been no official announcement from Apple or China Mobile yet I’ve heard China Mobile is already included in Apple’s current share price. The current share price seems rather low in that case. I honestly don’t know what to believe anymore. It’s very frustrating for Apple shareholders and I honestly wish Tim Cook would make a few things more clearer. Apple’s P/E is now over 14 so things have been slowly improving but it’s still half of Google’s P/E. I’d still like to see more long-term institutional investors get into Apple but nothing seems to be happening on that front.

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